Fossil Group, Inc. (FOSL) Shares Gap Up to $7.62
Shares of Fossil Group, Inc. (NASDAQ:FOSL) gapped up prior to trading on Monday . The stock had previously closed at $7.41, but opened at $7.62. Fossil Group shares last traded at $7.95, with a volume of 2053400 shares trading hands.
Several analysts recently weighed in on FOSL shares. ValuEngine lowered Fossil Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, August 3rd. Wells Fargo & Company reiterated an “underperform” rating and issued a $8.00 target price on shares of Fossil Group in a research report on Thursday, August 3rd. Telsey Advisory Group dropped their target price on Fossil Group from $13.00 to $11.00 and set a “market perform” rating for the company in a research report on Wednesday, August 9th. Finally, Bank of America Corporation set a $7.00 target price on Fossil Group and gave the company a “sell” rating in a research report on Wednesday, August 9th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Fossil Group presently has an average rating of “Hold” and an average target price of $13.54.
The company has a market capitalization of $374.64, a price-to-earnings ratio of 9.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.32 and a quick ratio of 1.09.
Fossil Group (NASDAQ:FOSL) last issued its earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.32. The business had revenue of $689.00 million during the quarter, compared to the consensus estimate of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. research analysts predict that Fossil Group, Inc. will post -0.22 earnings per share for the current fiscal year.
In other Fossil Group news, EVP Gregory A. Mckelvey acquired 110,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $6.22 per share, with a total value of $684,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Zimmerman acquired 36,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was acquired at an average cost of $8.30 per share, for a total transaction of $298,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 157,700 shares of company stock worth $1,082,866. 12.80% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in shares of Fossil Group in the second quarter valued at $113,000. GSA Capital Partners LLP bought a new stake in shares of Fossil Group in the second quarter valued at $120,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Fossil Group in the second quarter valued at $122,000. KBC Group NV raised its stake in shares of Fossil Group by 167.9% in the third quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock valued at $125,000 after buying an additional 8,424 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Fossil Group in the second quarter valued at $130,000.
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About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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